tg911

We are booked to fly with them at the end of April to be honest i have lost confidence with Thai now,never knowing when the axe will drop.
This will be our last booking with Thai only problem not much choice flying direct LHR/BKK.

boogey

Ah guys don't worry. Thai Airways will continue / maybe just different ownership structures if anything.

anaidross

I think so too. The shareholders should be ones who should worry if there are no privatization plans.

JVPhoto

What exactly has Thai done to leave you in the lurch other than media speculation of finances and mgmt issues?

Is the flag carrier with such assets, network and customers just going to close shop in 24 hours notice if it went "bankrupt"?

dsquared37

They could switch to a TG model and offer F seats as a middle Y with the window/aisle blocked.

transpac

Not off topic at all, THAI hedged fuel costs...



Cheap oil alone will not turn THAI around

ACHARA DEBOONME,
SUCHAT SRITAMA

THE NATION January 26, 2015 1:00 am

Last year, Thai Airways International showed a mind-boggling net loss of Bt9.2 billion. Will it return to profitability this year as the jet fuel price nosedives more than half from a year ago?

A THAI official told Reuters in September that the airline raised its jet fuel hedging to 63 per cent of fuel needs until late this year, compared with 53 per cent until midyear.

"As long as jet fuel prices are still in the range of $100-$125, we will not post losses," the official said.

http://www.nationmultimedia.com/busi...-30252638.html


THAI is severely in debt and no local banks will loan them any more money. They need the military junta to essentially give them a big pile of cash sooner rather than later.

THAI was "privatized" in 2002, but the government (MoF), government pension funds (GSB) and others loosely associated with the government "own" more than 50% of the shares.

Kacee

TG management playing the futures markets? That's like letting your kids play on the freeway.

BinSabai

actually a lot of airlines hedged fuel costs and have still high operational costs despite the sharp decrease of the oil price

tg911

Just concerned about their aircraft maintenance schedule and every time we have booked a flight over the last year or two bankruptcy is always in the news.
Not sure if the site below is credible but those figures don't look good to me.
http://www.macroaxis.com/invest/rati..._Of_Bankruptcy

BinSabai

interesting site! if everything was so easy predictable....
so they state a 76% probability that TG goes bankrupt within the next 2 years. And the same site states that the famous Berkshire Hathaway of Warren Buffett goes bankrupt within 2 years with a 64% probability!!!
Apple seems with only 30% a safe bet!

transpac

The ruling military dictatorship would never, ever let THAI declare bankruptcy. The loss of FACE would be huge. Unless they could blame it on the former PM, of course.

I don't think anyone really expects a bankruptcy, but when the Q4/2014 FY figures are released next month one might expect some operational "changes"? Or at least a bigger broom, and a larger carpet?

Aussie_flyer

A340/747 need to be retired. They need to consolidate the fleet. Its madness operating so many different aircraft types

wozup12

Haha, maybe it is a TG marketing strategy to keep people guessing as to what kind of configuration might end up at the gate. The 777 configuration is ridiculous just flew their 77W HS-TKR to find that the seating finish is not the A380 purple but that deep maroon they've come up with for their new 'contemporary concept'... even though everything else remains the same as the A380 design!! WHYYYY?

Being a Thai person by heritage, I absolutely love Thai Airways and have been flying them since I could walk. All my trips are routed through Thailand so I can fly with them. It used to be so great to be able to have a national carrier to be proud of, but in recent times things have become so ridiculously inconsistent, with service, staff and aircraft that it's kind of becoming hard to love them anymore.

Seeing QANTAS making sweeping changes throughout their company for the better and actually doing things to bring their company back from the brink made me hopeful that THAI could do the same. When the military stepped and said they would make sweeping changes, I really hoped that Thai could be up there again with Singapore Airlines and Cathay Pacific. (Needless to say my hopes where completely dashed when they decided to move Thai Smile to DMK)

Hearing all this bankruptcy business makes me sad.

transpac

Junta supremo reiterates that THAI will not be allowed to enter bankruptcy...


Prayut dismisses rumor of THAI going bankrupt

The prime minister dismissed the rumor after he chaired a meeting of the State Enterprise Policy Committee (or known as super board) to endorse the THAI’s financial rehabilitation scheme.

Gen Prayut said THAI wouldn’t go bankrupt as the government was taking care of it.

However it had to cut its expenditures, increase revenues and cut routes which are not worth investment.

He said that THAI has to sell some of its assets or aircraft, cut unnecessary cost to stay profitable as there is tough competition in the aviation industry.

http://englishnews.thaipbs.or.th/pra...going-bankrupt



Thai Airways International won't go bankrupt: PM

BANGKOK, Jan 26 -- Prime Minister Prayut Chan-o-cha insisted that he would not let Thai Airways International (THAI) go into bankruptcy but it must cut expenses, increase income, sell assets and restructure its organisation.

After chairing a meeting of the State Enterprise Policy Commission at Government House today, Gen Prayut said solutions were discussed regarding survival of loss-ridden state enterprises and resolved that four or five state enterprises would undergo rehabilitation steps including restructuring and legal amendments to support their operations.

Regarding losses at THAI, the national flag carrier, Gen Prayut said that the government would not let it become bankrupt.

It must change its management, structure and workforce, reduce expenses, raise income, cut non-performing routes, and partially sell assets including unnecessary aircraft through transparent auctions, he said.

BinSabai

TG is just one of half a dozen of mismanaged state enterprises under the former government. Others are in much more terrible shape than TG.
All begun with a PM, who called himself CEO and let his cronies and underdogs exploit and run down those state enterprises. The same people who sacked the capable President of TG Piyasvasti Amranand and ended the started Turnaround by him